Top Trends in Retail Banking 2013

by Bart Narter, December 13, 2012
Industry Trends
Global, Asia-Pacific, EMEA, North America

Abstract

Every year Celent gathers its analysts from across the globe to summarize the top trends in retail banking.

In the report Top Trends in Retail Banking 2013, Celent synthesizes key trends in each of four major areas: payments, technology, digital channels, and branch. The geographic emphasis of this report is mostly North America; however, many of the trends are global in nature. Additionally, Celent touches on trends in China and Western Europe.

Some of the trends Celent sees in the marketplace are a little too trendy, with more discussion than reality. Celent goes against the grain in helping banks to sort out what not to think about as well as what to think about.

“Celent believes that the integration of mobile payments and merchant fund rewards will drive step changes in the payments landscape,” says Zil Bareisis, Senior Analyst with Celent’s Banking Group. “The combination of payment data, location awareness, and immediacy will be more than enough to put mobile offers over the top.”

“There has been a real paucity of core banking migrations in the United States and Canada over the past 15 or 20 years,” adds Bart Narter, Senior Vice President of Celent’s Banking Group and author of the report. “The pickup in activity in the last year or so has been dramatic.”

One trend that has been overhyped is cloud. Right now, pretty much everything is called cloud, but cloud needs to be defined before it can be discussed. This report offers Celent’s definition.

The discussion of each of these trends is brief, but the reader is referred to other Celent reports in order to get more in-depth views.

This 38-page report contains 21 figures and 2 tables.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

1

Payments

2

 

Offers, Offers, Everywhere

2

 

Contactless Payments: Emergence of a Megamarket

5

 

Payment Infrastructure

7

Technology

9

 

Core Banking in North America

9

 

Bank Data Not Big Data

9

 

Living on Cloud 9

11

Digital Channels

14

 

The Convergence of Online and Mobile Banking

14

 

One Solution to Rule Them All?

15

 

Startups Are Eating Banks’ Lunch

16

 

Mobile RDC Mainstreaming

17

 

Social Media: Listening, But Then What?

19

Branch

22

 

Branch Banking Becoming an Alternative Channel

22

 

A Tipping Point in Branch Transformation

23

 

Perfect Storm for Workforce Optimization Solution Adoption

27

 

A Teller Capture Renaissance

29

Conclusion

31

Leveraging Celent’s Expertise

32

 

Support for Financial Institutions

32

 

Support for Vendors

32

Related Celent Research

33

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